Page 19 - PriMed 2022 Benefits Guide

How Much Voluntary Life Insurance Do I Need?

Consider three factors when deciding the amount of voluntary life coverage you elect:
1. How much will your dependents need to pay debts, such as a mortgage, car loan, or credit card
balances?
2. How much do your dependents need to maintain their current standard of living?
3. What kind of future would you like to provide for your dependents or others who depend on you for
financial support?
Voluntary Term Life Insurance Premiums

Voluntary Term Life Premiums
Employee Spouse Child(ren)
Age
Monthly Rate per $10,000 Monthly Rate per $5,000 Monthly Rate Per $2,000
Non-Tobacco Tobacco
Under age 30 $0.76 $1.12 $0.54
30-34 $0.79 $1.18 $0.57
35-39 $1.04 $1.67 $0.78
40-44 $1.44 $2.55 $1.12
45-49 $2.28 $3.99 $1.74 $0.486
50-54 $3.52 $6.77 $2.74 (for all children)
55-59 $5.79 $9.62 $4.18
60-64 $8.74 $13.60 $7.25
65-69 $15.18 $22.52 $12.27
70-74 $27.08 $39.10 $21.61
75 and older $54.48 $70.30 $42.88

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